Air Namibia lessor agrees to settlement

Air Namibia managed to avoid liquidation proceedings on Friday January 19 by reaching an out-of-court settlement with a lessor creditor. The airline owed 253-million Namibian Dollars (R253m) for an aircraft it had leased more than 20 years ago. In 1998, Belgian aircraft leasing company ChallengeAir provided Air Namibia with a Boeing 767 aircraft for use on the national carrier’s route network. Air Namibia claimed the Boeing 767 aircraft it had received was defective and unfit for use. Air Namibia subsequently cancelled its contract with ChallengeAir for the hire of the aircraft. ChallengeAir filed for the liquidation of the national carrier